May 3, 2019 / 10:01 AM / 3 months ago

SE Asia Stocks-Most slide ahead of US jobs data, cenbank decisions

    * Indonesia top loser, Malaysia outperforms
    * Philippines notches biggest weekly gain in SE Asia

    By Aditya Soni
    May 3 (Reuters) - Most Southeast Asian stock markets closed
lower on Friday, following Wall Street losses overnight and as
caution prevailed ahead of key U.S. jobs data due later in the
day and central bank decisions next week.
    Indonesian shares led losses in Southeast Asia for a
second straight session, as reduced hopes of a rate cut by the
U.S. Federal Reserve this year hurt risk appetite, leading to
falls in all three major U.S. stock indexes on Thursday.
    Investors now await the U.S. employment data for clues about
the health of the world's largest economy. 
    "Global risk appetite has turned more sober post-FOMC as
traders digested (Fed Chair Jerome) Powell's 'transient'
inflation trajectory and are awaiting tonight's key U.S. nonfarm
payrolls, unemployment and wage data," OCBC Bank analysts said
in a client note.
    Broad-based losses pushed the Indonesian benchmark stock
index to its lowest close since Jan. 9. The index declined 1.3
percent this week, the most in Southeast Asia.
    Bank Danamon Indonesia Tbk PT was the top loser
for a second consecutive session, declining 15.5 percent to a
more than 10-month closing low. 
    Markets participants were also wary of taking risk ahead of
a bevy of regional monetary policy decisions next week. 
    The central banks of Malaysia, the Philippines and Thailand
are set to meet next week and most of them are expected to cut
rates, said Prakash Sakpal, Asia economist at ING.
    "But the continued strength of the Chinese economy and a
trade deal which might be just around the corner could change
things quite a bit," he added. 
    Philippine shares slid 0.4 percent, pulled down by
weakness in industrials. However, the benchmark stock index
notched a weekly gain of 1.3 percent, the most in the region. 
    Vietnam stocks fell to a one-week closing low, while
Singapore shares closed little changed. 
    Malaysian shares advanced on the back of gains in
telecommunication stocks. 
    Telco Axiata Group Bhd firmed to a two-week high
after its digital services arm got a minority investment from 
Mitsui & Co Ltd.
    
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3392.29   3393.33         -0.03
 Bangkok            1679.05   1679.17         -0.01
 Manila             7967.98   8001.57         -0.42
 Jakarta            6319.459  6374.422        -0.86
 Kuala Lumpur       1637.3    1632.24         0.31
 Ho Chi Minh        974.14    978.5           -0.45
                                              
 Change on year                               
 Market             Current   End 2018        Pct Move
 Singapore          3392.29   3068.76         10.54
 Bangkok            1679.05   1563.88         7.36
 Manila             7967.98   7466.02         6.72
 Jakarta            6319.459  6194.498        2.02
 Kuala Lumpur       1637.3    1690.58         -3.15
 Ho Chi Minh        974.14    892.54          9.14
 
 (Reporting by Aditya Soni in Bengaluru; Editing by Subhranshu
Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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